REG - Oriole Resources PLC - Strong Final Drilling Results for Mbe

Oriole ResourcesAnnouncement

Mon 07:00

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RNS Number : 2179A  Oriole Resources PLC  22 September 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR.  Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

Oriole Resources PLC

('Oriole Resources' or the 'Company')

 

Strong Final Drilling Results for Mbe - New Zone Delivers Wide Gold
Intersections Outside of Exploration Target

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company
focused on West and Central Africa, is pleased to report final results for the
recently completed 6,828.40m maiden ('Phase 1') drilling programme at its
90% 1  (#_ftn1) owned Mbe orogenic gold project ('Mbe' or the 'Project') in
Cameroon.

 

Highlights

 

·    Results for the final holes, MBDD021 to MBDD024, have returned a
further 59 gold mineralised intersections at the MB01-S target, taking the
total number of gold-bearing intersections over the programme to date to 344,
equating to a discovery rate of more than one intersection every 20m.  The
latest results include (using a 0.20 g/t Au lower cut-off grade):

 

MBDD024:

o  29.80m at 0.79g/t Au from 116.90m including 13.70m at 1.36g/t Au

o  11.00m at 0.73g/t Au from 85.10m including 6.00m at 1.13g/t Au

o  4.55m at 0.47g/t Au from 167.00m including 1.05m at 1.08g/t Au

 

MBDD022:

o  12.50m at 0.74g/t Au from 5.50m, including 4.20m at 1.31g/t Au and 1.00m
at 1.33g/t Au

o  9.50m at 0.45g/t Au from 39.50m, including 1.00m at 1.48g/t Au

o  8.00m at 0.53g/t Au from 61.40m

 

MBDD023:

o  5.00m at 0.87g/t Au from 87.80m, including 1.00m at 2.52g/t Au

o  9.50m at 0.41g/t Au from 223.80m, including 1.00m at 1.06g/t Au

 

MBDD021:

o  1.10m at 0.96g/t Au from 5.20m

o  1.00m at 1.30g/t Au from 75.00m

o  1.00m at 1.13g/t Au from 208.40m

 

·    MBDD024, drilled over the westernmost soil anomaly, has confirmed
substantial widths of gold mineralisation outside of the limits of the
existing Exploration Target, and has increased the width of sub-surface
mineralisation to approximately 550m.

 

·    In addition, holes MBDD021 - MBDD023 were drilled on a new fence line
(N872382), approximately 100m south of previous drilling (N872482), and have
extended the strike length of the sub-surface system to around 500m.
 Mineralisation remains open in all directions.

 

·    Following the confirmatory site visit last month, the Company has now
instructed Forge to complete a maiden Mineral Resource Estimate for MB01-S,
which accounted for approximately 60% of the Exploration Target.  The results
are expected in Q4-2025.

 

Commenting, Chief Executive Officer of Oriole Resources, Martin Rosser, said:
"We are pleased that the final MB01-S maiden drilling programme results
support further extensions to the Exploration Target we published in July,
approximately 60% of that estimate relating to MB01-S."

"Importantly, they have shown that the sub surface mineralised system at
MB01-S now extends over an approximate 500m strike length, a width of
approximately 550m and a vertical depth of at least 290m, with the system
remaining open in all directions.

"The maiden JORC MRE is due in Q4-2025 and is expected to achieve a high level
of conversion over the Exploration Target at MB01-S, and an expansion of that
estimate is also anticipated based on these new results."

 

Figure 1. Selected best results for holes MBDD021 and MBDD024 (blue boxes)
reported today, alongside previously reported best results for the rest of the
maiden drilling programme (white boxes).  All newly reported holes are
drilled towards 270˚ (from grid north).  Drilling fence line IDs are in blue
text.  The data is overlain on gold-in-soil contours, and the previously
reported Exploration Target outline is delineated.

 

Further Details

 

A Phase 1 diamond drilling programme commenced at MB01-S in late November 2024
and was completed in September 2025 for a total of 6,828.40m in 24 holes.

The Company today reports final results for the programme, related to holes
MBDD021 to MBDD024, with all holes drilled towards the west (270˚).  Results
have delivered 59 further mineralised intersections, including some
significant wide zones of sub-gramme material such as 29.80m at 0.79g/t Au,
including 9.60m at 1.77g/t Au, and 11.00m at 0.73g/t Au (MBDD024), and 12.50m
at 0.74g/t Au, including 3.10m at 1.60g/t Au and 1.00m at 1.13g/t Au, and
9.50m at 0.45g/t Au, including 1.00m at 1.48g/t Au (MBDD022) (Table 1).  The
total number of gold bearing intersections over the programme stands at 344,
equating to a discovery rate of more than one intersection every 20m.  A
review of the QAQC samples has confirmed that the data falls within acceptable
limits.

 

Table 1. Calculated intersections from Phase 1 holes MBDD021 to MBDD024, using
a 0.20g/t Au lower cut-off grade.  Results greater than 1.00g/t Au are in
bold and 'including' intervals are in bold italics.

 Hole ID    From (m)  To (m)  Au grade (g/t)  Intersection
 MBDD021    5.20      6.30    0.96            1.10m at 0.96g/t Au
 and        68.00     69.00   0.37            1.00m at 0.37g/t Au
 and        72.00     73.00   0.24            1.00m at 0.24g/t Au
 and        75.00     76.00   1.30            1.00m at 1.30g/t Au
 and        85.10     91.00   0.21            5.90m at 0.21g/t Au
 and        94.00     96.00   0.32            2.00m at 0.32g/t Au
 and        108.00    111.00  0.42            3.00m at 0.42g/t Au
 and        161.90    167.00  0.31            5.10m at 0.31g/t Au
 and        192.40    193.40  0.20            1.00m at 0.20g/t Au
 and        194.40    195.40  0.27            1.00m at 0.27g/t Au
 and        201.40    202.40  0.32            1.00m at 0.32g/t Au
 and        208.40    209.40  1.13            1.00m at 1.13g/t Au
 MBDD022    5.50      18.00   0.74            12.50m at 0.74g/t Au
 including  8.50      9.50    1.33            1.00m at 1.33g/t Au
 including  12.80     17.00   1.31            4.20m at 1.31g/t Au
 and        30.20     31.20   0.24            1.00m at 0.24g/t Au
 and        39.50     49.00   0.45            9.50m at 0.45g/t Au
 including  47.00     48.00   1.48            1.00m at 1.48g/t Au
 and        61.40     69.40   0.53            8.00m at 0.53g/t Au
 and        72.75     73.90   0.23            1.15m at 0.23g/t Au
 and        78.40     79.55   0.22            1.15m at 0.22g/t Au
 and        83.60     88.60   0.31            5.00m at 0.31g/t Au
 and        95.60     96.60   0.65            1.00m at 0.65g/t Au
 and        104.10    105.20  0.23            1.10m at 0.23g/t Au
 and        110.60    111.60  0.30            1.00m at 0.30g/t Au
 and        118.80    119.90  0.32            1.10m at 0.32g/t Au
 and        127.00    128.00  0.21            1.00m at 0.21g/t Au
 and        139.30    142.40  0.34            3.10m at 0.34g/t Au
 and        153.40    154.40  0.30            1.00m at 0.30g/t Au
 and        187.50    188.50  0.92            1.00m at 0.92g/t Au
 and        190.70    191.80  0.30            1.10m at 0.30g/t Au
 MBDD023    5.50      7.40    0.33            1.90m at 0.33g/t Au
 and        20.40     21.40   0.26            1.00m at 0.26g/t Au
 and        57.40     58.40   1.55            1.00m at 1.55g/t Au
 and        63.80     65.00   0.44            1.20m at 0.44g/t Au
 and        71.40     72.50   0.24            1.10m at 0.24g/t Au
 and        87.80     92.80   0.87            5.00m at 0.87g/t Au
 including  89.80     90.80   2.52            1.00m at 2.52g/t Au
 and        102.40    103.50  0.46            1.10m at 0.46g/t Au
 and        175.90    176.90  0.95            1.00m at 0.95g/t Au
 and        192.20    193.20  0.52            1.00m at 0.52g/t Au
 and        198.70    201.90  0.20            3.20m at 0.20g/t Au
 and        204.30    205.30  0.97            1.00m at 0.97g/t Au
 and        213.00    214.20  0.22            1.20m at 0.22g/t Au
 and        223.80    233.30  0.41            9.50m at 0.41g/t Au
 including  232.30    233.30  1.06            1.00m at 1.06g/t Au
 and        235.40    236.50  0.23            1.10m at 0.23g/t Au
 and        241.50    242.50  0.25            1.10m at 0.25g/t Au
 MBDD024    5.30      6.30    0.20            1.00m at 0.20g/t Au
 and        33.30     34.40   0.29            1.10m at 0.29g/t Au
 and        44.40     45.60   0.39            1.20m at 0.39g/t Au
 and        59.10     60.30   0.38            1.20m at 0.38g/t Au
 and        73.30     74.50   0.26            1.20m at 0.26g/t Au
 and        76.70     77.80   0.31            1.10m at 0.31g/t Au
 and        81.10     82.10   0.76            1.00m at 0.76g/t Au
 and        85.10     96.10   0.73            11.00m at 0.73g/t Au
 including  85.10     91.10   1.13            6.00m at 1.13g/t Au
 and        99.30     100.40  0.22            1.10m at 0.22g/t Au
 and        110.30    111.30  0.68            1.00m at 0.68g/t Au
 and        116.90    146.70  0.79            29.80m at 0.79g/t Au
 including  133.00    146.70  1.36            13.70m at 1.36g/t Au
 and        152.30    157.80  0.29            5.50m at 0.29g/t Au
 and        162.70    164.80  0.55            2.10m at 0.55g/t Au
 and        167.00    171.55  0.47            4.55m at 0.47g/t Au
 including  169.35    170.40  1.08            1.05m at 1.08g/t Au
 and        175.00    176.50  0.22            1.50m at 0.22g/t Au
 and        186.00    187.00  0.31            1.00m at 0.31g/t Au
 and        200.80    201.80  0.21            1.00m at 0.21g/t Au
 and        216.40    217.40  0.84            1.00m at 0.84g/t Au

 

All holes extended the limits of sub-surface mineralisation.  Importantly,
hole MBDD024 was located on a new fence line (N872442), planned to test the
westernmost soil anomaly.  The wide zones of gold anomalism identified in
this hole predominant fall outside of the Exploration Target published in July
2025 and therefore offers further upside when the MRE is prepared, having
extended the width of the sub-surface system by approximately 100m.

Holes MBDD021 to MBDD023 are located on new fence line N872382, some 100m
south of N872482, underpinning results from the 2024 trenching programme and
again extending the limits of the sub-surface system.

Figure 2. Interpretative cross section for fence line N872442 at MB01-S, with
selected mineralised intervals from holes MBDD024.

Figure 3. Interpretative cross section for fence line N872382 at MB01-S, with
selected mineralised intervals from holes MBDD021 - MBDD023.

Overall, the maiden drilling programme has confirmed that the system at MB01-S
extends over an approximate 500m strike length, a width of approximately 550m
and a vertical depth of at least 290m, with the system remaining open in all
directions.

The data has been shared with Forge, who will now undertake geological
wireframing to inform the pit-constrained maiden Resource estimation.  The
MRE will be for MB01-S only, which accounts for approximately 60% of the
Exploration Target, and is anticipated in early Q4.  Forge anticipates a
strong level of conversion but any material that doesn't have enough sample
support to be upgraded to a JORC Resource category, including that at MB01-N,
which is yet to be drilled, will remain in the Exploration Target and will be
reported separately.  The Company believes that the deposit could be mined by
open pit methods.

 

Further information can be found in the JORC Table 1 disclosure on the
following page of the Company's website:
https://orioleresources.com/projects/mbe/
(https://orioleresources.com/projects/mbe/) .

 

Enquiries:

 Oriole Resources Plc                                  Tel: +44 (0)23 8065 1649
 Martin Rosser / Bob Smeeton / Claire Bay

 Strand Hanson Limited (Nomad & Broker)                Tel: +44 (0)20 7409 3494
 Christopher Raggett / James Spinney / Edward Foulkes

 IFC Advisory Ltd (Financial IR & PR)                  Tel: +44 (0)20 3934 6630
 Tim Metcalfe / Graham Herring / Florence Staton       oriole@investor-focus.co.uk

 

Competent Persons Statement

 

The information in this announcement that relates to the Exploration Target is
based on data compiled by Mr. Robert Davies, EurGeol, CGeol, an independent
consultant to Oriole.  Mr Davies is a Director of Forge International
Limited.  Mr Davies has sufficient experience that is relevant to the style
of mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the JORC
Code.  Mr Davies consents to the inclusion in the report of the matters based
on his information in the form and context in which it appears.  The Company
confirms that it is not aware of any new information or data that materially
affects the Exploration Target, and that all material assumptions and
technical parameters underpinning the Exploration Target continue to apply.

 

The technical information in this release that relates to exploration results
and the planned exploration programme has been compiled by Mrs Claire Bay
(Executive Director).  Claire Bay (MGeol, CGeol) is a Competent Person as
defined in the JORC code and takes responsibility for the release of this
information.  Claire has reviewed the information in this announcement and
confirms that she is not aware of any new information or data that materially
affects the information reproduced here.

 

Glossary and Abbreviations

 Au                               Gold
 Forge                            Forge International Limited
 g/t                              Grammes per tonne
 JORC                             Joint Ore Reserves Committee
 JORC Code                        2012 Edition of the Australasian Code for Reporting of Exploration Results,
                                  Mineral Resources and Ore Reserves
 Km                               Kilometre
 km(2)                            Square kilometre
 Mbe                              Mbe orogenic gold project
 M                                Metres
 MRE                              Mineral Resource Estimate
 Mt                               Million tonnes
 Oriole Resources or the Company  Oriole Resources PLC
 Oz                               Troy ounce of gold
 Phase 1                          Maiden diamond drilling programme at the MB01-S target, Mbe
 Project                          Mbe orogenic gold project
 QFP                              Quartz Feldspar Porphyry
 t/m(3)                           Tonnes per cubic metre

 

Notes to Editors

 

Oriole Resources

 

Oriole Resources PLC is an AIM-quoted gold exploration company, with projects
in West and Central Africa.  It is focused on early-stage exploration in
Cameroon, where the Company has reported a Resource of 460,000oz contained
gold at 2.06g/t Au in the JORC Indicated and Inferred categories at its 90%
owned Bibemi project and has identified multi-kilometre gold anomalies within
the district scale Central Licence Package project, including the Mbe project.
 At Mbe, the Company has published a maiden Exploration target range of 33 to
44Mt at a grade of 0.77 to 0.95g/t Au for 0.82Moz to 1.34Moz contained gold
for the MB01 prospect, and a maiden Resource for the MB01-S target is
scheduled for Q4-2025.  BCM International is currently earning up to a 50%
interest in the Bibemi and Mbe projects in return for a combined investment of
US$1.5 million in signature payments, up to US$8 million in exploration
expenditure, as well as JORC resource-based success payments.

 

At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl
('AGEM'), a wholly owned subsidiary of Managem Group, has completed a six-year
earn-in to acquire an approximate 59% beneficial interest in the Senala
Exploration Licence by spending US$5.8 million.  The Company has reported a
Resource of 155,000oz contained gold at 1.26g/t Au in the JORC Inferred
category for the Faré South prospect, and an additional, complementary
Exploration Target range of 17 to 24Mt at a grade of 0.69 to 0.84g/t Au for
380,000 to 650,000oz contained gold for all prospects at Senala.  Discussions
on the formation of a joint venture company are currently underway.  The
Company also has several interests and royalties in companies operating in
East Africa and Turkey that could give future cash payments.

 

For further information please visit www.orioleresources.com
(http://www.orioleresources.com) ,  @OrioleResources on X

 

Background on Mbe

 

Mbe, with a licence area of 312km(2), is an orogenic gold project located
within the broader 2,266km(2) 'Eastern CLP' package of five contiguous gold
focused exploration licences in the Adamawa Region of central Cameroon.
Since 2022, the Company's systematic exploration programmes have identified a
3km long, NE trending prospect, named MB01, which sits within a wider 12.5km
long zone of gold-in-soil anomalism that trends ENE.

At MB01, increased dilation at the sites of structural intersections (steeply
dipping NNE and NNW trending shear structures) is believed to have resulted in
enhanced levels of gold deposition at the northern target, MB01-N, and MB01-S,
the southern target.  Gold mineralisation at these targets comprises
high-grade, sulphide- and telluride-rich quartz veins, veinlets and breccias
within wider envelopes of pervasive, lower-grade gold mineralisation.

After highly encouraging results from infill soil sampling, rock-chip
sampling, and trench sampling, a fully funded maiden drilling programme
commenced at the MB01-S target in late November 2024 and was completed in
September 2025 for 6,828.40m in 24 holes.  BCM International has acquired an
initial 10% interest in Mbe and is earning up to a further 40% interest by
spending up to US$4 million on exploration.

An Exploration Target 2  (#_ftn2) range of 33 to 44Mt at 0.77 to 0.95g/t Au
for 0.82 to 1.34Moz contained Au was published in July 2025, based on diamond
drilling results from holes MBDD001 to MBDD013 at MB01-S, as well as trenching
data, and the interpretation of geophysical and geochemical anomaly maps from
both MB01-N and MB01-S.  The Exploration Target remains open in all
directions and at depth and it is anticipated that it will be succeeded by a
maiden MRE in Q4 2025.

 

 1  (#_ftnref1) Oriole is currently undertaking a restructuring process that,
once completed, will see it increase its holding from 80% to a 90% interest in
the Project (announcement dated 17 October 2024).

 2  (#_ftnref2) The potential quality and grade of the Exploration Target are
conceptual in nature.  There has been insufficient exploration to estimate a
Mineral Resource, and there is no certainty that further exploration work will
result in the determination of a Mineral Resource.

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